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Jun 30, 2023
Aytu BioScience Q4 2023 Earnings Report
Aytu BioPharma reported record revenues, prescriptions, and adjusted EBITDA for Q4 2023.
Key Takeaways
Aytu BioPharma reported a strong Q4 2023 with record revenues of $30.7 million, a 12% increase year-over-year, and a positive Adjusted EBITDA of $7.7 million. The company's Rx segment drove growth with record prescriptions and revenues, while the Consumer Health segment is being de-emphasized to improve profitability. Aytu is focusing on its core Rx segment and expects to achieve net income going forward.
Total net revenue reached $30.7 million, a 12% increase year-over-year.
Rx segment net revenue was $23.3 million, a 24% increase year-over-year.
Total quarterly promoted Rx product prescriptions increased 32% year-over-year to 155,562.
Adjusted EBITDA was a positive $7.7 million, compared to a negative $3.9 million in the year-ago quarter.
Aytu BioScience
Aytu BioScience
Aytu BioScience Revenue by Segment
Revenue by Segment
Other Revenue
CapyFin.com Forward Guidance
Aytu BioPharma expects continued growth of the Rx Segment in fiscal 2024 and believes it is well-positioned to cover operational expenses and drive shareholder value.
Positive Outlook
- Continued growth of the Rx Segment in fiscal 2024
- Well-positioned to cover operational expenses
- Drive shareholder value
- Manufacturing transfer of Adzenys XR-ODT and Cotempla XR-ODT can materially add to ADHD gross profit margins.
- Company expects a six-month review of the PAS submission, which would enable FDA approval by late calendar 2023 or early calendar 2024
Challenges Ahead
- Winding down the Consumer Health segment
- Suspension of all pipeline development programs
- Dependence on Rx Segment growth
- Reliance on third-party manufacturers
- Potential risks associated with gaining market acceptance of products